LMR Partners LLP Buys Shares of 380,481 ChampionX Co. (NASDAQ:CHX)

LMR Partners LLP acquired a new position in ChampionX Co. (NASDAQ:CHX) in the 4th quarter, HoldingsChannel reports. The fund acquired 380,481 shares of the company’s stock, valued at approximately $10,345,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHX. Jones Financial Companies Lllp raised its stake in shares of ChampionX by 153.2% during the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of ChampionX by 1,051.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after buying an additional 1,725 shares in the last quarter. R Squared Ltd purchased a new position in ChampionX during the fourth quarter valued at approximately $103,000. Vestcor Inc increased its holdings in ChampionX by 71.6% during the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock worth $137,000 after acquiring an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in ChampionX by 82,557.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock valued at $157,000 after purchasing an additional 5,779 shares during the period. 98.99% of the stock is currently owned by institutional investors.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $25.10 on Monday. ChampionX Co. has a one year low of $21.92 and a one year high of $35.94. The company’s fifty day moving average price is $26.68 and its 200-day moving average price is $28.28. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 15.21 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. On average, equities research analysts anticipate that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.095 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.51%. ChampionX’s dividend payout ratio (DPR) is 25.17%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lifted their price objective on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, May 5th.

ChampionX Company Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.